Asian currencies fall
The MSCI gauge of emerging Asia stocks touched its highest in more than three years and was set to end the week 1.6% higher. Stocks in Taiwan, which make up over a fifth of the index, rose 1% to a more than four-month high.
TSMC, the world's largest contract chipmaker, rallied more than 2% after posting a record quarterly profit on Thursday.
An MSCI index of ASEAN equities, dominated by Singapore, surged to a more than nine-month high. Singapore's stocks touched a record high for the tenth straight day, which also marks its longest ever rally.
Indonesian equities jumped more than 1% to an over seven-month peak, led by data centre service provider DCI Indonesia, which surged over 16% to a record high, and Barito Renewables Energy, which gained about 8%.
A trade deal with the US at a lower than previously announced tariff rate, alongside an increasingly dovish stance by the central bank, has helped drive inflows into equities.
Domestic investors have net bought 6.21 trillion rupiah ($380.86 million) so far this month, as per exchange data.
In Thailand, the benchmark index rose 1%. It has surged almost 7% for the week and was set for its biggest gain since June 2020, driven by inflows on news of the government proposing a new central bank chief with a dovish bias.
Elsewhere, Malaysian stocks jumped 0.4%, while those in the Philippines ticked marginally higher. India's Nifty 50 slipped 0.7% to a more than three-week low.
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